Charger Metals (ASX:CHR) wrap-up drilling at Lake Johnston

Charger Metals have completed the highly anticipated maiden lithium drilling at the promising  Medcalf Spodumene Discovery, part of the  Lake Johnston project near the freakishly large Earl Grey lithium deposit in southern Western Australia.

Results from the eagerly anticipated  41-hole, 7199-metre RC campaign aiming to extend further a swarm of spodumene-bearing pegmatites occurring within a 100-metre zone under transported cover and at depth.

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“With the drilling programme returning multiple intersections of spodumene-pegmatites, the Company’s geologists are planning deeper core holes designed to expand the known mineralisation to a greater depth,” Charger Managing Director David Crook said.

“Assays from holes drilled in late 2022 included high-grade lithium intersections from surface down to a vertical depth of at least 210m.

“This year’s drilling has increased the known extent of the spodumene-pegmatites which are still open along strike and at depth.”

Perched near the world-class 189Mt @1.5% lithium oxide Earl Grey deposit, Charger is already the sole owner of Medcalf and is set to move to complete control of the lithium rights for all Lake Johnston tenements after agreeing to a transaction with Lithium Australia.

Preparations for a more profound follow-up are advancing, while target generation geochemistry continues over the Mt Day and Medcalf West prospects.

Location relative to other spodumene deposits of southern Western Australia

Lithium Market Outlook

The demand for electric vehicles, renewable energy storage, and other lithium-based technologies is expected to drive the growth of the lithium market over the next few years.

Global lithium markets are expected to reach a peak market value of around $5.88 billion by 2023. Australia is expected to supply the lion’s share of high-demand lithium-ion markets in  China, Japan, and South Korea.

CHARGER FPO [CHR]

Sector: Basic Materials

Industry: Other Industrial Metals & Mining

Employees:

Charger Metals NL engages in the exploration for battery metals. The company explores for nickel, copper, lithium, and platinum group elements. Its project portfolio includes a 100% interest in the Lake Johnston project located in Perth, Western Australia; 85% interest in the Coates project situated in Wundowie, Western Australia; and 70% interest in the Bynoe lithium project in the northern Territory. The company was incorporated in 2020 and is based in Subiaco, Australia. As of October 29, 2024 Charger Metals NL (ASX : CHR) operates as subsidiary of Core Lithium Ltd.

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